Pangaea Logistics Solutions (NASDAQ:PANL) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.52 and traded as low as $6.68. Pangaea Logistics Solutions shares last traded at $6.74, with a volume of 402,469 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PANL shares. Weiss Ratings lowered shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.00.

Pangaea Logistics Solutions Trading Down 2.3%

The company’s 50-day moving average price is $7.52 and its 200-day moving average price is $7.63. The firm has a market cap of $440.93 million, a price-to-earnings ratio of 12.25 and a beta of 0.79. The company has a quick ratio of 1.37, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. The firm had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.78 million. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. Equities analysts expect that Pangaea Logistics Solutions Ltd. will post 0.71 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.0%. Pangaea Logistics Solutions’s dividend payout ratio is presently 36.36%.

Institutional Trading of Pangaea Logistics Solutions

A number of institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Pangaea Logistics Solutions by 5.6% during the first quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company’s stock worth $204,000 after purchasing an additional 1,534 shares in the last quarter. Empowered Funds LLC boosted its stake in Pangaea Logistics Solutions by 9.8% during the 1st quarter. Empowered Funds LLC now owns 413,152 shares of the shipping company’s stock worth $2,925,000 after purchasing an additional 36,990 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Pangaea Logistics Solutions by 13.2% during the 1st quarter. Quantinno Capital Management LP now owns 86,583 shares of the shipping company’s stock worth $613,000 after purchasing an additional 10,098 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pangaea Logistics Solutions by 33.0% during the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after buying an additional 185,100 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Pangaea Logistics Solutions by 66.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock worth $1,479,000 after buying an additional 83,380 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.